Importers Division: a boom in Egyptian exports due to the suspension of factories in Europe

Ahmed Al-Malawani, head of the Foreign Trade Committee at the General Division for Importers, called for an increase in the facilitation measures for the export sector, due to their great importance, as they are considered the most important sources of national income and are the basis for the state's foreign trade, stressing that Egyptian companies are able to increase exports to 100 billion US dollars annually, provided that companies are supported, as President Abdel Fattah El-Sisi directed, pointing out that local companies and factories have the ability to increase and double exports provided the necessary support is provided to them.

In a press statement, Al-Mallawany confirmed that Egypt is currently witnessing a boom in exports because China has severe pressure in orders, in addition to the fact that most European countries have stopped their factories due to the Corona pandemic.

He pointed out that some measures may lead to disrupting exports. Therefore, exporters hope that the government will complete the measures taken by the last period to increase exports, and they hope for more positive steps in facilitating export procedures in Egyptian ports, explaining that the political leadership pays great attention to the export file, and the importance of achieving a breakthrough. Unsurpassed in export rates for all sectors, especially as Egypt has a competitive advantage.

The head of the Foreign Trade Committee at the General Division for Importers stated that removing obstacles to export would lead to an increase in Egypt's export reputation, while increasing it, in addition to that, it would contribute to opening new markets abroad.

With regard to the importance of exports, he stressed the existence of a great relationship between export and import, as the increase in export benefits importers because it provides a difficult currency for them, and thus the import process for production requirements, which leads to easy access to the currency, so the more export increases, the more fresh the import of new goods can be developed and worked. Similarities for competition and development.

Egyptian exports decreased by 1% during 2020, to reach 25.295 billion dollars compared to 25.637 billion in 2019, while imports fell 12%, to reach 63.587 billion dollars, compared to 71.862 billion, according to the Egyptian Foreign Trade Performance Indicators report last year.